44706040 2025-01-01 2025-12-31 44706040 2025-01-01 2025-12-31 1 44706040 2025-01-01 2025-12-31 1 44706040 2024-03-15 2024-12-31 44706040 2025-12-31 44706040 2024-12-31 44706040 2024-12-31 fsa:ContributedCapitalMember 44706040 2024-12-31 fsa:RetainedEarningsMember 44706040 2025-01-01 2025-12-31 fsa:RetainedEarningsMember 44706040 2025-12-31 fsa:ContributedCapitalMember 44706040 2025-12-31 fsa:RetainedEarningsMember 44706040 2025-01-01 2025-12-31 fsa:ShorttermPayablesToShareholdersAndManagementMember iso4217:USD xbrli:pure Annual report 2026-06-11 Bo Danner Henriksen The Executive Board has today considered and approved the annual report of Stu17 ApS for the financial year 01.01.2025 - 31.12.2025. The annual report is presented in accordance with the Danish Financial Statements Act. In my opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2025 and​of the results of its operations for the financial year 01.01.2025 - 31.12.2025. I believe that the management commentary contains a fair review of the affairs and conditions referred to therein. I consider the preconditions for not auditing the financial statements for the financial year 01.01.2025 - 31.12.2025 to be complied with. I recommend the annual report for adoption at the Annual General Meeting. Copenhagen Bo Danner Henriksen To Management of Stu17 ApS We have compiled the financial statements of Stu17 ApS for the financial year 01.01.2025 - 31.12.2025 based on the Entity’s bookkeeping records and other information Management has ​provided. ​​ ​​These financial statements comprise the income statement, balance sheet, statement of changes in equity, notes and a summary of significant accounting policies. ​​ ​​We performed this compilation engagement in accordance with ISRS 4410, Compilation Engagements. ​​ ​​We have applied our expertise in accounting and financial reporting to assist Management in the preparation ​​and presentation of these financial statements in accordance with the Danish Financial Statements Act. We have complied with relevant provisions of the Danish Public Accountants Act and the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code), including principles of integrity, objectivity, professional competence and due care. ​​These financial statements and the accuracy and completeness of the information used to compile the financial ​​statements are Management’s responsibility. ​​Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy ​​or completeness of the disclosures Management provided to us to compile these financial statements. ​Accordingly, we do not express an audit opinion or a review conclusion about whether the financial statements ​​have been prepared in accordance with the Danish Financial Statements Act. Copenhagen Deloitte Statsautoriseret Revisionspartnerselskab 33963556 Rasmus Grynderup Kiær Steffensen State Authorised Public Accountant mne44143 Primary activitiesThe company's main activity is to own investments in unlisted companies. Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. -9395 -9114 22178 29427 2257 39 16992 7150 -1952 13202 -1952 13202 -1952 13202 494687 243002 494687 243002 494687 243002 51002 39183 51002 39183 545689 282185 5762 5762 11250 13202 17012 18964 524222 257200 4455 6021 528677 263221 528677 263221 545689 282185 5762 13202 18964 -1952 -1952 5762 11250 17012 1 Payables to owners and management The loan amount accrues interest at an annual rate of 5.00%. The counterparty has issued a subordination ​agreement, thereby committing the shareholder to subordinate their claims to those of other creditors. 2 EmployeesThe Entity has no employees other than the Executive Board. The Executive Officer has not received any ​remuneration.20252024Average number of full-time employees00 0 0 3 Contingent assetsThe Entity has an unrecognised tax asset which amounts to USD 39,789. 4 Contingent liabilitiesAt the balance sheet date, the Entity has assumed obligations to make further investments in unlisted entites by ​an amount of up to totally USD 508,986. ​​There are no other guarantees or contingent liabilities of the enity This annual report has been presented in accordance with the provisions of the Danish Financial Statements ​Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year.The reporting currency is U.S. Dollars (USD). The balance sheet date exchange rate has been applied, which is ​USD/DKK 6.3527. The reporting currency is U.S. Dollars (USD). The balance sheet date exchange rate has been applied, which is ​USD/DKK 6.3527. Non-comparabilityThe financial year 2024 comprises the period 15.03.2024 - 31.12.2024. As a result, the financial years 2025 and ​2024 are not directly comparable. Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic ​benefits will flow to the Entity, and the value of the asset can be measured reliably. ​​Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a ​result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the ​value of the liability can be measured reliably. ​​On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial ​recognition is effected as described below for each financial statement item. ​​Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm ​or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and ​measurement. ​​Income is recognised in the income statement when earned, whereas costs are recognised by the amounts ​attributable to this financial year. Gross profit or lossGross profit or loss comprises other external expenses. Other external expensesOther external expenses include expenses relating to the Entity’s normal activities. Income from other fixed asset investments Income from other fixed asset investments comprises gains in the form of dividends, etc. on fixed ​asset investments which are not investments in group enterprises or associates. Other financial incomeOther financial income comprises interest income. Other financial expensesOther financial expenses comprise interest expenses. Other investmentsOther investments comprise unlisted equity investments measured at the lower of cost and net realisable value. CashCash comprises bank deposits. Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. true 2026-06-11 2026-06-11 true 2024-03-15 2024-12-31 København S 2300 6 Weidekampsgade København København K 1256 Regnskabsklasse B Andre erklæringer uden sikkerhed 2025-12-31 2025-01-01 133 Amaliegade Stu17 ApS 44706040 33963556 2300 København S Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab